Moorad: No money worries for group

Positives are noted in first-year retrospective

PEORIA, Ariz.  Jeff Moorad has heard the rumors about his ownership group.

Most notable is the one that claims Moorad’s group is underfinanced and not being capitalized enough to complete the purchase of the Padres over the unique, five-year, layaway plan that Moorad and John Moores signed a year ago yesterday.

That rumor also has the Padres possibly returning to Moores’ control if the sale is not completed.

“No truth,” Moorad said earlier this week while discussing his first year as the steward of San Diego’s professional baseball fortunes.

“Our partnership has a $4 billion net worth.”

The transfer of approximately $50 million Wednesday officially made Moorad’s group of investors 50 percent co-owners of the Padres with Moores.

And while the purchase of the Padres might take another four years to complete, Moorad said the Padres are “gaining momentum” and “positioning ourselves for the future.”

Many fans, however, argue Moorad’s group hasn’t committed to the club as expected. If the group’s pockets are deep, they argue, why is the payroll possibly the lowest in the major leagues? Where are the Padres headed?

Moorad said his group has “stabilized the business and positioned it for growth” over the past year. He says the payroll will eventually grow to more than $70 million.

“This year is the first time since Petco Park opened (2004) that the Padres will have sold more season tickets than the previous season,” Moorad said.

“Last year the season ticket renewal rate was 56 percent. This year it was 86 percent. And we’ve sold 1,100 new season tickets compared to 200 last season.”

Moorad is anticipating attendance will top two million this season after dropping under that total last year for the first time at Petco Park.

“This is a fan base that wants to believe,” Moorad said. “The core of that base is broader, more significant and passionate than I could have known from the outside looking in. I was surprised. But that fan base has also been disappointed.

“It’s up to us to rejuvenate that fan base.”

Moorad said he has learned much about the Padres and their fans over the past year.

“What I didn’t know and didn’t expect is the passion for the Padres in San Diego,” Moorad said. “It took us a little time to fully understand what we had.”

Take Petco Park for example.

Shortly after signing the agreement to purchase the Padres, Moorad was asked about changing the dimensions of Petco Park. Along with the Padres, Moorad acquired a set of blueprints detailing possible changes that would enhance a left-handed hitter’s chances of reaching the distant seats in right and right-center.

At the time, Moorad said he wasn’t sure. A year later, he emphatically states that Petco Park will not be changed.

“Our ballpark is a beautiful and unique facility that offers strategic advantages,” said Moorad. “In the past, the Padres have failed to take advantage of that.

“We’re building a team that features speed, defense and starting pitching to take advantage of Petco Park. The last thing we’re going to do is change that.”

Moorad said the timing of the sale might have been good for everyone.

“The timing was right for a change. There is a fresh culture in the building. There is optimism in the building, both on and off the field. It gives me a sense of satisfaction that we’re on the right course.”